It was to be expected and I am a little disappointed since the rumors were true.

Steve’s opening note was on queue:

The era of the iPhone is here.  It’s wild.  Feast on these specs:
Giant touch-screen and nothing else. Multi-touch high-res finger pointing.

Cradle sync like iPod. 3.5-inch display, 11.6 mm thick.

2MP camera. Speaker, mic at bottom. Proximity sensor turns off display and input when you raise the phone to your face

Accelerometer switches between portrait and landscape. Finger gestures.

Double-tap to go to 16:9 wide screen. A/V outs.

"Killer app is making calls. Most people dial their phones."

Visual voicemail. Random-access voice mail. GSM+EDGE. Wi-Fi and Bluetooth.

"Merge calls" button for conferencing. Parties to an active call are listed by name, you can switch among them by touch.

SMS messaging becomes IM with multiple sessions, iChat style display. On-screen keyboard auto-corrects.

"Pinch" gesture with thumb and forefinger zooms/shrinks images.

Rich HTML mail from any IMAP or POP3.. Safari browser. Auto-switches Internet connection between Wi-Fi and GSM/GPRS.

Free Blackberry-style push IMAP E-mail from Yahoo! Touch embedded phone number in message to dial.

Desktop-class e-mail with split view, HTML rich text, embedded images.

Safari; displays full page (text too small, of course). Pinch to zoom or double-tap to fill screen.

Multiple sites at the same time, Scroll horizontally to go from site to site. Think tabs in desktop browser, but with no tabs.

Google Maps maps and satellite with shortcut interface, not browser, Widgets like Dashboard, but one widget fills screen.

Click here for Tom Yager’s post

Half of Macs selling to new users. Quote from MS’s Jim Allchin: "I’d be using a Mac if I didn’t work for Microsoft."

2 billion songs sold on iTunes 5M songs per day. Now outselling Amazon for music.

50M TV shows. 1.3 M movies sold so far, Paramount signed up, 250 movies available.

Apple
Wireless 802.11 b, g, n.. 720p video. 40 Stores 150 hours of video.
Auto-syn wireless in background from Mac, Up to five Macs as streaming
receivers. Arbitrary authenticated Macs as streaming servers.

Very nice 3-D photo galleries.

$299, ships in February.

Just to name a few.  This will draw more people to Apple…